Amazon is close to purchasing a 10% stake in Indian retail giant Future Limited Retail, according to Bloomberg.
The deal would mark another sign that Amazon is looking to expand in India following a report that it’s planning to purchase a 26% stake in Indian retailer Reliance Retail.
Future Limited Retail operates a supermarket chain in India called Big Bazaar, which would also signify another push by Amazon into the grocery market.
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Amazon is eyeing a 10% stake in Indian retail giant Future Retail Limited, according to a new report from Bloomberg.
The Seattle-based e-commerce behemoth is reportedly in late-stage talks with Future, which is said to be seeking a valuation of $281 million, or 20 billion rupees. Future’s portfolio includes more than 1,534 retail locations in more than 400 cities and towns in India across several different chains, including its Big Bazaar supermarkets among other food, home, and lifestyle brands.
Such a deal would be the latest sign that Amazon could be looking to push deeper into India, which is expected to host an e-commerce market that could be worth $200 billion by 2026 according to the India Brand …read more
Source:: Businessinsider – Tech